Construction production and output prices up in Q4 and entire 2018

Both construction output prices and production were up in the fourth quarter and during the entire 2018, data released by the Cyprus Statistical Service, on Friday, show.

According to the data, the index of production in construction for the fourth quarter of 2018 reached 203.3 units (base year 2015=100.0), recording an increase of 14.2% over the fourth quarter of 2017.

By type of project, an increase of 14.2% was observed for buildings and of 13.9% for civil engineering projects in the fourth quarter of 2018 compared to the same quarter of 2017.

For the period January-December 2018, the overall index registered an increase of 17.0% over the same twelve-month period of 2017. An increase of 20.6% was recorded in the index for buildings and of 2.1% for civil engineering projects.

The Statistical service data show that the output prices index in construction for the fourth quarter of 2018 reached 107.5 units (base year 2015=100.0), recording an increase of 1.4% over the third quarter of 2018. Compared to the same quarter of the previous year, the index recorded an increase of 4.7%.

By type of project, an increase of 2.8% was observed for buildings and of 11.6% for civil engineering projects in the fourth quarter of 2018 on an annual basis.

For the period January-December 2018, the overall index registered an increase of 4.2% over the same period of 2017. An increase of 3.4% was recorded in the index for buildings and of 7.2% for civil engineering projects.